Discover and Capital One: Top cards to consider

The Board of Governors of the Federal Reserve System and Office of the Comptroller of the Currency approved Capital One’s acquisition of Discover in April 2025 following concern among consumers about what the landmark merger could mean for cardholders. The $35.3 billion deal includes expansive plans committed to communities of both issuers, with the goal of injecting more competition into the payments network landscape currently dominated by Mastercard and Visa.

Speculation about how the credit card market will change has been ongoing, but it’s still unclear exactly how the merger will impact products from both issuers. While it’s safe to assume that Capital One and Discover card offerings could change as a result of the merger, current product line-ups from both issuers remain steady and competitive.

Discover vs. Capital One

Discover is an online-only bank that offers a variety of credit cards and banking products, including cash back, rewards and balance transfer credit cards. The issuer is especially popular among cardholders for its great customer service, forgiving fees, generous rewards rates and lucrative welcome offer — Discover’s Cashback Match.

It also ranks highly among the top credit card issuers when it comes to customer satisfaction, consistently earning a top spot in J.D. Power’s annual U.S. Credit Card Customer Satisfaction Rankings. Discover charges very few fees — and sometimes none at all — for its credit and banking products, making them an accessible option for just about anyone. Most notably, Discover uses its own payment network, which is what Capital One was most interested in for this merger.

Capital One also offers competitive rates and rewarding credit cards to consumers of all stripes, boasting a rich portfolio of travel, secured, cash back and student credit cards. Many of the top Capital One cards have earned a spot on Bankrate’s list of best credit cards, and Capital One itself was recognized as the Best Big Bank and Best Bank for ATM Access in the 2024 Bankrate Awards.

Why did they merge?

Capital One boasts one of the highest credit card purchase volumes in the world at just over $600 billion, while Discover lags behind at around $220 billion. You may wonder what Capital One has to gain from this merger, but it’s less about volume and more about bringing together the best of both companies. Capital One’s acquisition of Discover is part of a long-term plan to inject more competition into the payment networks space.

In a press release announcing the merger in February 2024, Capital One CEO Richard Fairbank said the financial institution’s acquisition of Discover “is a singular opportunity to bring together two very successful companies with complementary capabilities and franchises, and to build a payments network that can compete with the largest payments networks and payments companies.”

In other words, this merger could make Capital One less reliant on the Visa and Mastercard networks. Plus, Capital One’s purchase volume is substantial enough that if it were to move all of its cards onto Discover’s network, it would make Discover more competitive with American Express, Visa and Mastercard.

Comparing top Capital One and Discover credit cards

Exploring top credit card offers is a key part of the process of applying for a new credit card. While there are no immediate changes to Discover and Capital One credit cards, here’s a quick recap of some of each issuer’s top cards by category.

Travel cards

Discover it® Miles vs. Capital One Venture

The Capital One Venture and the Discover it® Miles are the closest match between travel cards from both issuers. The Venture card charges a $95$95 annual fee, so it’s less affordable than the no-annual-fee Discover it® Miles. However, the Venture card has a better rewards rate, more valuable rewards and a generous welcome offer.

If you’re set on avoiding annual fees altogether but still want a Capital One card, you could also opt for the Capital One VentureOne instead. It earns a lower rate of miles than the Discover it Miles, but you’ll still be able to use the Capital One travel portal.

Cash back cards

Capital One Savor Cash Rewards Credit Card vs. Discover it® Cash Back

The Discover it® Cash Back card is Discover’s flagship rewards card and offers a terrific rewards rate in its rotating bonus categories. The Capital One Savor is a favorite because it offers substantial cash back potential through consistent everyday bonus categories, including groceries, dining and gas.

Both cards offer plenty of opportunities to earn cash back, but these cards appeal to different types of cardholders. If you’re spending changes throughout the year, the Discover it® Cash Back may be more appealing, but if you prefer something more consistent, the Capital One Savor Cash Rewards may be a better fit.

Balance transfer cards

Capital One Quicksilver Cash Rewards Credit Card vs. Discover it® Chrome

Both Discover and Capital One have solid balance transfer cards. Although Capital One offers intro APRs on many of its cards, Discover is known for offering longer intro APR periods and minimal fees that can help borrowers reduce debt beyond intro APR periods.

The Discover it® Chrome gives you more time to pay off any balance you carry, but both cards have fairly reasonable cash back potential and the Quicksilver Cash Rewards card can be a great card over the long-term. However, for balance transfer cards, you should focus on your reducing debt and less on new spending.

Credit-building cards

Capital One Platinum Secured vs. Discover it® Secured

The Discover it® Secured offers credit-building cardholders nearly as much value as one might find on a cash back credit card. It has a welcome offer, tiered rewards and an intro APR offer. This places it far ahead of the Capital One Platinum Secured, which offers none of these.

If you choose either of these cards, you should aim to deposit as much as possible to open up your credit limit. That said, the Discover it® Secured beats the Capital One Platinum Secured because it offers much more to cardholders than the Platinum Secured does.

Student cards

Capital One Savor Student Cash Rewards Credit Card vs. Discover it® Student Cash Back card

The Capital One Savor Student Cash Rewards Credit Card and the Discover it® Student Cash Back are both nearly identical to their non-student versions from each respective issuer. They have comparable rewards rates and features but lack some premium benefits. They’re both worth looking into as a student if you’re on the hunt for your first card.

The Capital One card will be great for students who spend frequently in everyday categories, while the Discover it® Student Cash Back will be a better choice for student cardholders whose spending aligns with Discover’s quarterly rotating calendar.

The bottom line

There are several cards from both Discover and Capital One that you should consider if you’re looking for a new credit card.

Discover is one of the best issuers when it comes to low rates and fees, and most Discover cards have the potential to earn a welcome offer that outpaces the welcome offers on many of the best rewards cards. Capital One, on the other hand, offers consistent everyday value with several of its credit cards. Its cards are great for your typical spending, while Discover’s cards are likely a better fit if you enjoy strategizing about where and when to buy to maximize your rewards.

The Capital One and Discover merger may eventually shake up the credit cards landscape quite a bit, and it’ll be interesting to see what key features of both issuers’ cards will remain when the dust has settled. Although some features could go by the wayside, there may be new perks and features that Capital One offers once it has integrated its payment network, combining the best of both companies.